The dollar was firm against some other overseas currencies which weighed on the rupee, but a higher opening in the domestic equity market capped the losses, dealers said.
Mumbai: The rupee depreciated by 7 paise to 67.34 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange on increased month-end demand for the American currency from importers.
The dollar was firm against some other overseas currencies which weighed on the rupee, but a higher opening in the domestic equity market capped the losses, dealers said.
On Tuesday, the rupee had recouped by 8 paise to close at 67.27 against the American currency on fag-end selling of dollars by banks and exporters in view of sustained foreign capital inflows into domestic equities.
Meanwhile, the benchmark BSE Sensex rose by 143.87 points, or 0.51 per cent, at 28,120.39 in early trade.
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